EXPERT SYSTEM GROUP HALF-YEARLY REPORT AS AT
EXPERT SYSTEM GROUPHALF-YEARLY REPORTAS AT 30/06/2018
CONTENTS1. Consolidated Financial Statements of the Expert System Group as at30/06/20182. Interim Management Report as at 30/06/20183. Explanatory Notes to the consolidated financial statements as at30/06/2018
CORPORATE BODIESB oar d of Di r ec tor sChairman of the Board of DirectorsMARCO VARONEChief Executive OfficerSTEFANO SPAGGIARIDirectorPAOLO LOMBARDIDirectorANDREA MELEGARIDirectorGABRIELLA FRANZINIDirectorMARCELLO PELLACANIIndependent directorALBERTO SANGIOVANNI VINCENTELLIIndependent directorSTEFANO PEDRINIB oar d of St atut or y A udi tor sChairman of the Board of Statutory AuditorsALESSANDRO AUGUSTOStanding AuditorANDREA CUOGHIStanding AuditorANTONIO TAZZIOLIEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20181
CONSOLIDATED FINANCI AL STATEMENTS AS AT 30/06/2018BALANCE SHEETASSETS30/06/201831/12/20171) Start-up and expansion costs1,037,1561,230,5792) Development ,3766,010,757-20,79829358515,785,90916,944,056A) SUBSCRIBED CAPITAL, UNPAIDTotal subscribed capital, unpaid (A)B) FIXED ASSETSI - Intangible fixed assets3) Industrial patent and intellectual property rights4) Concessions, licences, trademarks and similar rights5) Goodwill6) Fixed assets in progress and payments on account7) OtherTotal intangible fixed assetsEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20182
II - Tangible fixed assets1) Land and 05700,778733,823Total Receivables (2)700,778733,8233) Other securities79,07085,9521,088,1191,128,1802) Plant and machinery4) Other assetsTotal tangible fixed assetsIII - Non-current financial assets1) Equity investmentsb) associatesd-bis) other companiesTotal equity investments2) Receivablesb) Due from associatesAfter 12 monthsTotal non-current financial assetsTotal fixed assets (B)17,638,15418,864,103C) CURRENT ASSETSI - Inventories1) Raw materials and consumables3) Contract work in progressTotal 2,384,14911,052,52612,384,149II) Receivables1) Due from customersWithin 12 monthsTotal receivables due from customers2) Due from subsidiariesEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20183
Within 12 months38,24433,982After 12 r 12 months1,203,6181,677,790Total prepaid taxes1,975,7642,142,181Within 12 months4,144,6844,056,590After 12 4,617,4234,617,4761) Bank and postal deposits9,409,68511,221,6613) Cash at bank and in hand2,9383,029-10,000Total receivables due from subsidiaries3) Due from associatesWithin 12 monthsTotal receivables due from associates5-bis) Tax receivablesWithin 12 monthsAfter 12 monthsTotal tax receivables5-ter) Prepaid taxesWithin 12 months5-quater) Other receivablesTotal other receivablesTotal receivablesIII - Current financial assets1) Equity investments in subsidiaries4) Other equity investments6) Other securitiesTotal current financial assetsIV - Cash and cash equivalents2) ChequesEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20184
Total cash and cash equivalents9,412,623Total current assets (C)D) ACCRUALS AND 30453,002,692TOTAL ASSETS56,498,234BALANCE SHEETLIABILITIES30/06/201831/12/2017A) GROUP SHAREHOLDERS’ EQUITYI) Share capitalII - Share premium 8991,190,7731,493,354Merger surplus reserve376,622376,622Reserve for unrealised exchange gains180,049180,049IV - Legal reserveVI - Other reserves, indicated separatelyExtraordinary reserveMiscellaneous other reservesEuro rounding reserve728,947823,334--2,476,3902,873,359VII - Cash flow hedging reserve(33,887)(20,924)VIII - Retained earnings 127)(159,187)(292,879)15,244,23919,275,808Total other reservesIX - Profit (loss) for the yearX - Negative reserve for treasury shares in portfolioTotal consolidated shareholders' equityShareholders’ equity pertaining to minority interestsEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20185
Minority interests in capital and reserves--Profit (loss) pertaining to minority interests--Total shareholders’ equity pertaining to minority 4872,5573) Derivative financial instruments - liabilities33,88720,9244) ,000,0005,000,0005,000,0005,000,000Within 12 months4,336,7983,910,091After 12 in 12 months548,559869,024After 12 months825,917234,980Total consolidated shareholders' equityB) PROVISIONS FOR RISKS AND CHARGES1) Pensions and similar obligations2) Taxation, including deferredTotal provisions for risks and charges (B)C) EMPLOYEE SEVERANCE INDEMNITYD) PAYABLES1) BondsAfter 12 monthsTotal bonds4) Payables due to banksTotal payables due to banks5) Payables due to other lendersWithin 12 monthsAfter 12 monthsTotal payables due to other lenders6) Payments on accountEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20186
Total payments on 3,002,69256,498,2347) Trade payablesWithin 12 monthsAfter 12 monthsTotal trade payables12) Tax payablesWithin 12 monthsTotal tax payables13) Payables due to social security institutionsWithin 12 monthsTotal payables due to social security institutions14) Other payablesWithin 12 monthsAfter 12 monthsTotal other payablesTotal payablesE) ACCRUALS AND DEFERRALSTOTAL LIABILITIESINCOME STATEMENTINCOME 27251,2582,340,3372,524,452A) VALUE OF PRODUCTION1) Sales and service revenues3) Changes in contract work in progress4) Own work capitalisedEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20187
5) Other revenues and incomeOperating 57,280a) Salaries and wages7,429,9037,374,031b) Social security 765-10,0003,638,5183,312,849--96,887138,496TOTAL COSTS OF PRODUCTION (B)19,470,53719,042,014DIFFERENCE BETWEEN THE VALUE AND COSTS OF PRODUCTION (A-B)(3,567,541)(7,295,638)OtherTotal other revenues and income (5)TOTAL VALUE OF PRODUCTION (A)B) COSTS OF PRODUCTION:6) Raw materials, consumables and goods for resale7) For services8) Use of third-party assets9) Personnel:c) Employee severance indemnityd) Pensions and similar chargese) Other costsTotal personnel costs (9)10) Amortisation, depreciation and write-downs:a) Amortisation of intangible fixed assetsb) Depreciation of tangible fixed assetsd) Write-down of receivables included in current assets and of cash andcash equivalentsTotal amortisation, depreciation and write-downs (10)12) Provisions for risks14) Sundry operating expensesEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20188
C) FINANCIAL INCOME AND EXPENSES15) Income from equity investmentsOther--Total income from equity investments al other income (d)11,0918,827Total other financial income 3)116,777(1,370,320)18) Revaluations:-1,22819) Write-downs:--Total value adjustments to financial assets and liabilities (D) (18-19)-1,228(3,450,763)(8,664,730)Current taxes(120,539)-Deferred and prepaid taxes(174,573)1,031,29116) Other financial income:a) From receivables classified as fixed assetsFrom associatesOtherTotal financial income from receivables classified as fixed assetsc) From securities included in current assetsd) Other incomeOther17) Interest and other financial expenses17-bis) Exchange gains and lossesTotal financial income and expenses (C) (15 16-17 -17-bis)D) VALUE ADJUSTMENTS OF FINANCIAL ASSETS AND LIABILITIES:PRE-TAX RESULT (A-B -C -D)20) Income taxes for the year – current, deferred and prepaidEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 20189
Total income taxes for the year – current, deferred and prepaid21) Consolidated profit (loss) for the 45,876)(7,633,439)Profit (loss) for the year pertaining to minority shareholdersProfit (loss) for the year pertaining to the GroupCASH FLOW STATEMENTA. Cash flows from operating activities (indirect method)Profit (loss) for the me taxes295,112(348,129)Interest ds)(Capital gains)/Capital losses from asset disposals1. Profit/(Loss) for the year before income taxes, interest, dividends andcapital gains/losses from disposalsAllocation to provisionsAmortisation/Depreciation of fixed 102,421(12,963)-(272,731)-Write-downs due to impairmentAdjustments to financial assets and liabilities associated with derivatives, nonmonetaryOther adjustments for non-monetary itemsTotal adjustments for non-monetary items with no balancing entry in networking capital2. Cash flows before changes in net working )Changes in net working capitalDecrease/(Increase) in inventoriesDecrease/(Increase) in receivables due from customersIncrease/(Decrease) in trade payablesDecrease/(Increase) in accrued income and prepaid 1,793,282)(109,922)421,334EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201810
Increase/(Decrease) in accrued expenses and deferred incomeOther decreases/(Other increases) in net working capitalTotal changes in net working capital3. Cash flows after changes in net working ,724(1,804,214)1,603,078(1,846,130)Other adjustmentsInterest collected/(paid)(219,090)(625,600)(Income taxes paid)--Dividends se of provisions)Other collections/(payments)Total other adjustmentsCash flows from operating activities (A)1,239,787(2,547,030)Tangible fixed 30,000)541,273,643Intangible fixed assets(Investments)DisinvestmentsNon-current financial assets(Investments)DisinvestmentsCurrent financial assets(Investments)Disinvestments(Acquisition of subsidiaries net of cash and cash equivalents)Disposal of subsidiaries net of cash and cash equivalentsCash flows from investing activities (B)(2,411,848)(5,046,177)Third party financingIncrease/(Decrease) in short-term bank payables231,35099,097EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201811
New loans2,203,4583,600,000(3,084,815)(5,111,867)Share capital increase against payment-11,177,727(Repayments of share capital)--Disposal/(Purchase) of treasury shares--(Dividends and advances on dividends paid)--(Loan repayments)Own equityCash flows from funding activities (C)(650,007)9,764,957Increase/(Decrease) in cash and cash equivalents (A B C)Cash and cash equivalents at start of yearCash and cash equivalents at year endIncrease/(Decrease) in cash and cash 1,822,067)2,171,750EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201812
INTERIM MANAGEMENT REPORTGROUP STRUCTURE AND BUSINESS ACTIVITIESExpert System is an Italian company, listed on the AIM of Borsa Italiana (EXSY), with registeredoffices in Europe and North America, which develops cognitive computing software that simulatesthe human ability to understand, which can be used in the analysis of big data and unstructuredinformation, such as documents, news and articles, reports, emails and customer communications.The cognitive approach of Cogito software ensures users a higher return on their investments,driving companies and government agencies to choose the solutions offered by Expert System,including automatic tagging and classification, business process automation based on artificialintelligence, chatbots and customer support systems, intelligent research and corporate andgovernment intelligence solutions.Cogito semantics technology, proprietary to Expert System, is now able to understand, analyse,manage, archive, identify and share knowledge, a priority aspect for any modern company aimingto successfully grow its business. The relentless growth in content in terms of speed, volume,variety and location, in fact, represents a critical factor necessary for handling information andmaking it usable and for remaining highly competitive.EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201813
For its strongly unique nature, Expert System is today chosen by a wealth of customers thatsuccessfully operate in a vast range of businesses, including:-Banks and insurance companies, which have the option of optimising customer service throughchatbots and self-help solutions in natural language and automatic e-mail management, whosecontents, like those of other communications with their users (text messages, social media,etc.), can be analysed through automatic classification in order to capture requests, trends,problems and other useful indicators. It is also possible to automate operating processes withreference, for example, to reimbursement request management, mortgage approval or policyunderwriting, facilitating the application of anti-money laundering laws and compliance withlegal procedures;-Publishing and Media, a business offered the opportunity to simplify information retrieval andaccess to archives through tagging and browsing, increasing faceted revenues and creatingvalue by simplifying the introduction of digital products and services. Added to this is theincreased productivity in the editorial content creation and management with automatedtagging, content linking and enrichment, and support for investigative journalism throughintuitive and facilitated analysis of content and information streams;-Government organisations, which Cogito effectively provides with defence and intelligencesupport, as a resource for law enforcement sectors in crime control and prevention, offeringnew insight to combat criminal and illegal trafficking networks and proactively accompanyinganalysts in their investigations, particularly osInt and geoInt. In more general terms, ExpertSystem’s experience is partnered with the various public administration bodies andgovernment agencies, for which it develops solutions that can improve the ability to managethe complexity of information and make it available to serve and protect the community moreeffectively.By understanding the meaning of every word based on context with its software, and applying thiscapacity on a large scale to the automatic analysis of millions of documents, Expert Systemtechnology transforms available information into usable knowledge, offering numerous anddifferent uses, such as for example:-Knowledge management: the business knowledge management software created byEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201814
Expert System helps companies to fully exploit the value of all unstructured informationavailable in their business datasets to support the most strategic activities such as customerengagement, decision-making processes and security and intelligence activities. Cogito isable to understand any text content, regardless of the output format (research, surveydata, regulatory and compliance reports, procedural information, news, tweets, etc.), andenables corporate and government organisations to rely on different types of dataavailable internally or from external sources, such as the Internet and social media;-Process automation: in our increasingly competitive market of today, technologicalinnovation can offer banks and insurance companies effective tools to face the mainchallenges of business, automating the processes based on information processing, such asinteraction with customers, management of reimbursement requests and formmanagement, which traditionally call for considerable manual input. With its ability tounderstand text in a manner similar to humans, cognitive automation makes it possible todrastically reduce operating costs and increase customer satisfaction, allowing theautomation of different processes through cognitive computing technologies, text analyticsand natural language processing;-Virtual assistant: Cogito simplifies the support process for customers requiring assistance,through artificial intelligence algorithms that allow users to interact directly with thecompany using natural language, simulating a normal conversation. The client assistantsalso automatically provide appropriate content, facilitate purchases and help customersfind the right information quickly, 24/7. Through the ability to precisely understandcustomers’ language and their problems, they can provide targeted responses that takeaccount of specific needs. This makes the customer service simpler, personalised andalways available, significantly improving customer experience;-Corporate Intelligence, business coverage that today has to be able to incorporate themasses of information available to make informed decisions relating to strategic processes,for which Cogito cognitive technology analyses and summarises knowledge, providingorganisations with intelligence that is usable, prompt and strategic. This occurs througheffective management of structured and unstructured information, which allows:EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201815
-combination of internal knowledge with other sources of information to generate a newlevel of analysis and understanding;- provision of real-time knowledge on strategic initiatives;- mitigation of operational and reputation risks;- mapping of business information and knowledge in real time;- satisfaction of regulatory compliance requirements;- due diligence performance on companies, partners, individuals and any other thirdparty;- self-service access to data by corporate teams and analysts.-Big data extraction and enhancement: the identification of content elements and theextraction of big data and personalised concepts is an intrinsic and highly advancedfunction of Expert System technology. Counting on millions of word and concept definitionsand on several million relations already defined, Cogito cognitive technology includescontext-based language meaning, reading the content in a very human-like way. Thismeans that the capacity can be increased to automatically understand content and identifythe most significant information in the text. It is possible to identify, tag or extract persons,places, organisations, companies, URLs, e-mail addresses, telephone numbers and valuessuch as dates, currencies and denominations, percentages and practically any dataconsidered necessary. Unlike other text analytics approaches, with Cogito’s data extractionsoftware there are no lists to create or even to manage;-Automatic classification: semantic and cognitive processing enables a broad and thoroughanalysis, including classification, on large structured and unstructured datasets, performingautomatic classification and categorisation and document tagging, and can also beintegrated as a fully automated classification system. This is made possible by CogitoDiscover, software that guarantees the identification, classification and accessibility of themost extensive knowledge sources for more effective research and analysis.Over the last few years, the Group has consolidated its unique business characteristics, providingservices to corporate and government intelligence, taking on the structure represented by thefollowing chart:EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201816
100%Expert System USA Inc(USA)100%Expert System Iberia Slu(ES)100%100%Expert System Cogito LtdExpert System Enterprise Corp.(USA)(UK)Expert System S.p.A.(IT)100%100%Expert System France SAExpert System Canada –Semantic T. Inc. (CAN)(FR)100%Expert System DeutschlandGmbh (DE)17.66%CY4Gate Srl (IT)[J.V. with Elettronica S.p.A.]60.8%100%Admantx S.p.A.Admantx Inc(IT)(USA)The Expert System Group now boasts a global presence and infrastructure, with offices located inItaly, Spain, France, Germany, United Kingdom and USA.EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201817
OPERATING CONDITIONS AND BUSINESS DEVELOPMENTThe Big Data Text Analytics sector Expert System is engaged in is expanding strongly. Though todifferent extents, this applies at national, European and global levels, continuing to attractincreasingly large business investments that indicate an even more significant role in the globaleconomy in the future.Considering the volume, variety and speed of business information today, smart technologies havenow become a must for businesses to achieve the value needed to gain a competitive advantage.The life of analysts and knowledge workers engaged in transforming corporate data into easy-touse knowledge is a never-ending challenge, subject to pressure from the relentless growth ofinformation and to improve work speed and quality. The value of Artificial Intelligence nowavailable to organisations is essential in tackling and overcoming this challenge, transforming everytext element into a valuable, ready-to-use resource.In addition, the awareness of top management of companies in various sectors that applicationslike Cogito-based applications can carry strategic value for the near future continues to spread:Artificial Intelligence has become a powerful key asset for corporate and government entitieswhich, in the years to come, will dedicate more and more resources to this type of application.The performance of the Expert System share as at 27/09/2018 is presented below:MarketAIM Italia – MACShare capital 358,590Capitalisation 45,214,652Minimum parcel1,000.00Reference price 1.255 – 27/09/2018 h 17.35.03Official price 1.2609 - 26/09/20181 month performance 2.03%6 month performance- 4.20%1 year performance- 15.97%The chart below instead shows the share performance from the IPO (18/02/2014) as at27/09/2018. In particular, the chart compares the Expert System performance against that of theFTSE AIM Italia index (Source: www.borsaitaliana.it)EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201818
EXPERT SYSTEMFTSE AIM ItaliaA recent study carried out in August 2018 by Equita Sim shows how the market is underestimatingthe Expert System share compared to international comparables. This figure represents a bonusfactor in the future. One of the main reasons for interest in Expert System with respect tocomparables is its ability to develop numerous practical uses in different sectors of text analyticsand cognitive computing software, completely transforming previous approaches and increasingthe number of possible functions.On 28/06/2018, duly recorded by Notary Rolando Rosa (index no. 123026, folder 21969) and bythe powers granted to the Board of Directors, the second share capital increase was carried out inimplementation of the Temis 2016-2020 Stock Grant plan.The stock grant plan envisages the free assignment to employees or directors of Temis S.A., nowExpert System France S.A., of 978,967 shares.The plan was implemented by the issue of 721,245 new shares and the remaining 257,722 sharesthrough the assignment of treasury shares held by the company.The share capital increase led to the issue of the second tranche of 138,320 new shares through afree share capital increase of Euro 1,383.20, using funds for that amount from the extraordinaryreserve. On the same date, again in implementation of the Temis 2016-2020 Stock Grant Plan, thecompany arranged the free-of-charge assignment to beneficiaries of 64,430 treasury shares, equalto 25% of the total value of the plan.EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201819
In line with its growth path, again in the first six months of 2018 Expert System further boosted itsR&D and innovation strategy, with the aim of improving the efficiency and effectiveness of itssolutions, exploiting the full power of Artificial Intelligence to simplify and optimise businessprocesses and thereby provide an increasingly prompt response to the needs of customers.Expert System further enhanced its Knowledge Graph, the heart of Cogito which contains millionsof concepts, attributes and relationships between concepts, understands the meaning of wordsand phrases, disambiguates them and improves the state of the art of text analytics. In fact,through the “hybrid” approach that combines the rigour of manual activities underlying theknowledge graph with the expressive richness of language, as found in the real world, the Cogitodisambiguation process is now enhanced, also allowing easy transfer of the knowledge acquiredbetween different languages, with immediate benefits to the business world.The specific features of the Knowledge Graph were also acknowledged by Gartner, global leaderin Information Technology consulting, research and analysis, which included it among the 5emerging high-transformation potential technologies in the “Hype Cycle for EmergingTechnologies” report. The report analyses 35 emerging technologies at different levels of maturityand arranged them on the “hype” curve, which summarises the market maturity timeframe andthe impact potential.In the wake of the positive results in 2017, Cogito-based applications, combined with growth inthe sector, allowed Expert System to finalise new partnerships and technological synergies,capable of bringing high strategic value to customer companies in the near future.In the insurance industry, in Spain the Generali Group is implementing the artificial intelligencepotential of Cogito technology into its business process management. The insurance group, inline with its innovation and digitalisation strategy, will benefit from Cogito’s unique advantages inmanaging large volumes of non-structured information for the automatic classification of about 1million emails that the insurance company receives every year as part of customer support. Theobjective is to extend the benefits of artificial intelligence and cognitive computing also to otherbusiness areas.EXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201820
In more general terms, it is Expert System’s development strategy that today offers a product mixfor insurance of absolute global standing, which has led to major results in recent years withcustomers such as Zurich Insurance Group, Lloyd’s of London and Generali.The insurance industry today is experiencing a decisive moment for digital transformationprocesses, which are steering its innovation paths. Business competitiveness is based on newlevels of efficiency, which requires it to focus not only on product quality but also on costreduction, simplification of compliance and prompt satisfaction of increasingly demandingcustomers. It is no mere chance that, at the heart of the digital transformation of insurance, thereare two processes highly important to the sector based on the handling of large volumes of data,containing high-risk and unstructured information: claims management and the underwriting ofpolicies and contracts, which are targeted by the two new products dedicated to insurancepresented in the first half of 2018:-Cogito for Claims, for claims management: Cogito’s automatic document recognition (claimform, medical report, invoice, summons, etc.) makes it possible to identify relevantinformation, compare claims and insurance coverage limits, and obtain useful suggestionsfor the final assessments. The automation of the entire process reduces operating times,improves customer services and promptly intercepts any signs of fraud;-Cogito for Underwriting, for the underwriting of contracts: on the basis of data indicatedby the customer and the risk profile, Cogito proposes an estimate of the insurance coverageand other elements to complete a quote or draw up a contract. Through processautomation, it is possible to manage the contractual arrangements more quickly andaccurately - from underwriting to policy compliance analysis and assessment of the degreeof risk.In addition, with a view to sharing opportunities for change offered by modern ArtificialIntelligence solutions with a wide range of risk management and corporate security managers,with a targeted focus on scenarios, organisations and managerial roles, Expert System organisedthe “Artificial Intelligence: experience the future for your business strategy” event in Milan on 22May and on 5 June in Rome. During the meetings, the new role of corporate intelligence and riskmanagement was highlighted, which can no longer be limited to managing the actual criticalEXPERT SYSTEM GROUPHALF-YEARLY FINANCIAL REPORT - 30 JUNE 201821
situations, but must monitor and prevent potential threats, providing decision-makers with all thestrategic information. To discuss these issues, representatives of important companies who arealready Expert System customers, such as SNAM, Leonardo, Enel and A2A, were engaged asspeakers.In the first half of 2018 Expert System earned various major recognitions, in particular:-the inclusion again for 2018 in the “KMWorld 100 Companies that Matter in KnowledgeManagement” rankings, compiled by a group of sector experts and market analystsworking together under the guidance of the prestigious US magazine KMWorld to selectthe best so
Jun 30, 2018 · EXPERT SYSTEM GROUP HALF-YEARLY FINANCIAL REPORT - 30 JUNE 2018 13 INTERIM MANAGEMENT REPORT GROUP STRUCTURE AND BUSINESS ACTIVITIES Expert System is an Italian company, listed on the AIM of Borsa Italiana (EXSY), with registered
Page 3 of 7 English Half-Yearly Exam (Writing) 2018-2019 - Grade 6 - Theresa Nuzzo School THERESA NUZZO SCHOOL MARSA Half-Yearly Exams 2018-2019 GRADE 6 ENGLISH LONG WRITING TASK RECOUNT (20 marks) Choose either number 1 or number 2 1. The school has just organised a
3.7 Perceived requirement for expert systems 52 3.8 The role of an expert system 52 3.9 Responsibility of expert systems 55 3.10 Motivation for developing an expert system 56 3.11 Validation 59 3.12 Summary 60 4. EXPERT SYSTEM DEVELOPMENT 4.1 Introduction: A very brief background 61 4.2 Categories of information systems and problems 61 4.3 .
the expert's expertise is "good" and the expert himself (or herself) is ' good"then the Expert System will perform admirably. However, models can never be 100% accurate and no expert is omniscient. Because of this, it is important that users of Expert Systems exercise caution in interpreting the answers produced by these systems.
CLIPS expert system tool has been utilized for making this Expert system. From our survey, we found that there is a populace that does not know about Facebook and what are the benefits of utilizing it. This expert system acquaints them with the positive side of Facebook too. This expert system can be utilized broadly in numerous regions and .
developed using CLIPS expert system language. The result of the preliminary testing of the expert system was promising. Future Work This expert system is considered to be a base of future ones; more rules of Inheritance are planned to be added to the expert system and to make it more accessible to users from anywhere at any time.
An In-Depth Look At DIrect exAmInAtIon of expert WItnesses 153 II. expert WItnesses GenerALLy A. Need for Expert Testimony When preparing a case for trial, counsel must assess whether an expert’s testimony will be necessary.6 Generally, the purpose of expert witnesses is to clear up fuzzy facts or to strengthen inferences that might otherwise be confusing for the jury.7 The decision usually
International Journal of Computational Intelligence and Healthcare Informatics (Half Yearly) 8. International Journal of Computational Methods(Bimonthly)(P O) . 15.Journalof Advanced Research in Computer Engineering (Half Y e a r l y ) 16.Journal of Analysis and Computation (Half Yearly) 17.Journal of Digital Information Management
INTERNATIONAL GCSE Accounting . SPECIFICATION Pearson Edexcel International GCSE in Accounting (4AC1) For first teaching in September 2017 First examination June 2019
